Gold futures closed in the red for the seventh straight day Wednesday (July 6) as markets remained under pressure from the dollar’s appreciation. The dollar index recently rose above 107, a new 20-year high.
- Gold futures fell $27.4, or 1.55%, to $1,736.5 an ounce, the lowest close since early September 2021.
- Silver futures were up 3.8 cents, or 0.2%, at $19.159 an ounce.
- The platinum contract was down $9.8, or 1.15%, to close at $840.9 an ounce.
- Palladium fell $22.50, or 1.2%, at $1,896.30 an ounce.
Data from the Dow Jones Market show that gold futures contracts have fallen for seven consecutive days. This is the longest consecutive decline since March 5, 2019.
Gold futures fell to $1,740 under pressure from the strong dollar. The dollar index against the six major currencies in a basket of currencies rose 0.52% to 107.0910.
A strong dollar makes gold contracts more expensive for investors holding other currencies.
Investors are waiting for the release of the U.S. non-farm payrolls figures on Friday.
The Spot Market is Open
Thursday, July 7, 2022
| Metals Updated at | USD Bid/Ask | Ounce Change | Low/High |
| Gold 11.30 | 1,744.60 1,745.60 | +5.90 +0.34% | 1,736.60 1,748.10 |
| Silver 11.30 | 19.34 19.44 | +0.14 +0.70% | 19.08 19.51 |
| Platinum 11.25 | 683.00 873.00 | +7.00 +0.82% | 850.00 874.00 |
| Palladium 10.30 | 1,854.00 2,004.00 | +12.00 +0.65% | 1,842.00 2,011.00 |
| Rhodium 05.00 | 12,700.00 14,700.00 | 0.00 0.00% | 12,700.00 14,700.00 |